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When selecting a broker first check whether it is a regulated broker or not. With a regulated broker your fund is protected. There are a few brokers who freeze the account by showing some weak reasons. Furthermore, a few brokers deny to pay the customer if he makes huge profit. That is the reason a regulated broker is a decent decision. Considering all the above things I have chosen MaximusFx broker. So far I am very happy with them.Traders can't choose a reliable broker cause they don't know much. Today I came across a post on of the forums about a guy who opend an account with an unregulated broker and now he can't get his money back. What can I say, it's partially his fault and scammers just used it.
This is an excellent question. The broker you choose will have a major say in your forex trading development. My advise to traders is choose the broker that is regulated. A regulated broker will give you all the freedom to carry your business with maximum efficiency.
Whether they are regulated is one thing, but you finding the agencies and inquiring from them about the broker is another thing. If traders can go to such lengths I believe their problems are half solved.Regulation is the key point than we should consider the live trading features & facilities. But, before investing a huge amount, we can test by a small amount to check the environment actually.
For me I tie consistency of a broker with the efficiency of it's trading platform;A consistent and credible forex broker can act as your medium which can assist you in easy access to the forex market as well as it can provide you better facilities to perform your trading activities surrounded by a secure trading atmosphere. For this reason, majority of experts or pro traders give emphasizes on choosing right, reliable, credible and regulated forex broker so that a trader can receive the assistance from his broker.
I see thousands brokers on market, who are the decent ones and how to know?
Yes, there are so many this days that you almost get confused knowing the one to choose. So it's best you know what you want as a trader, some call it self definition before you choose which will suit you.I believe you need to look at their history and regulation. A prime example will be FreshForex, they are one who are servicing since over a decade now and is highly reputed and trusted. With some very fine offers available too, I doubt you will have trouble with selection anymore.
I think before all this it will be very important you go through their terms and conditions to avoid any breach of contract!Start with shortlisting reputed brokers and trading their demo accounts in order to know what are their processes. Once a broker is finalised, go with small amount to further test their processes like withdraw.
I think before all this it will be very important you go through their terms and conditions to avoid any breach of contract!
True, a lot is revealed in the terms of agreement. traders just don't have the time to go through it and it brings trouble at the end of the day.Must be; even we should read the terms & conditions very carefully. That’s the tricky part from the Forex brokers.